Tag Archives: Oil Price

China is deciding to ramp up solar capacity.

Saudi Aramco has announced that it will be pumping $110 billion over the next couple of years to develop the Jafurah gas field.

The chances of further output cuts have increased in the last week or so as the virus has spread rapidly outside China.

The rise and ever-declining costs of wind and solar have given hydrogen a new lift.

Younger generations aren’t hearing the calling to an oil industry that is gearing up for a dramatic talent shortage as mature experts begin to retire.

According to the latest report of OPEC. Iran produced 2.086 million barrels of crude oil per day in the first month of 2020.

Non-oil trade between Beijing and the Gulf Cooperation Council (GCC) has grown from just several billion dollars two decades ago to nearly $200 billion last year.

The death toll from the coronavirus has risen to 638. with all but two of them limited to China. More than 31.000 people have been affected.

Chinese oil demand has dropped by about 3 million barrels a day. or 20% of total consumption. as the coronavirus squeezes the economy. according to people with inside knowledge of the country’s energy industry.

The oil market was under pressure because of coronavirus outbreak and as a result the oil price had fallen to below $60 per barrel. adding. Efforts must be made to ensure the market balance.